Eike Batista, born November 3, 1956, is the Brazilian businessman who rose from selling insurance door to door to a peak net worth of about $30 billion to $35 billion in 2011 and 2012, then lost almost all of it by 2014 as his oil and mining group collapsed. Here are 10 things you need to know about the man who was once the richest in Brazil and among the seven or eight richest in the world, and what he has been doing since.
Recently we looked at Dan Bilzerian. The difference is that Batista built his money in gold, mining and oil, not at the poker table.
Eike Batista at a glance
| Fact | Detail |
|---|---|
| Born | November 3, 1956, Brazil |
| Early business | Gold trading at age 23; CEO of TVX Gold at 29 |
| Group | EBX Group: OGX, MPX, LLX, MMX, OSX |
| Peak wealth | About $30 billion to $35 billion (2011 to early 2012) |
| Low point | Reported negative net worth in 2014 |
| Today | EBX advises start-ups; introduced biotech start-up BRX in 2024 |
10. He was born in Brazil but grew up in Europe
Eike was the second of seven children of Eliezer Batista, a Brazilian businessman who led the mining giant Vale and served as Minister of Mines and Energy. His mother, Jutta Fuhrken, was German. The family moved to Europe when he was a teenager, living in Geneva, Dusseldorf and Brussels. From his mother he says he learned self-esteem and discipline. In 1974 he began studying metallurgical engineering at the University of Aachen in Germany.
9. He sold insurance door to door
When Eike was 18 his parents returned to Brazil but he stayed abroad, selling insurance policies door to door to make a living. He often says the stress and lessons of that period were essential to his education. He did not finish his degree.
8. He went for the gold
Batista returned to Brazil in the early 1980s and focused on the gold and diamond trades, contacting producers in the Amazon and buyers in big cities and Europe. At 23 he started a gold trading firm, Autram Aurem, which earned about $6 million within a year and a half.
7. He founded a group of companies
He introduced the first mechanized alluvial gold mining plant in the Amazon and became CEO of TVX Gold, listed in Montreal, at age 29. Between 1980 and 2000 he reportedly created about $20 billion in value with eight gold mines in Brazil and Canada and a silver mine in Chile. From 2004 to 2010 he built five companies under the EBX Group: MMX (mining), MPX (energy), OGX (oil and gas), LLX (logistics) and OSX (offshore).
6. He married a model
He married model, actress and carnival dancer Luma de Oliveira in 1991. They divorced in 2004 and have two sons, Thor and Olin. He later had a third son, Balder, in 2013.
5. He was a powerboat champion
In the 1990s Batista was Brazilian, US and world champion in the Super Offshore Powerboat class. In 2006 he covered the 220 nautical miles between Santos and Rio de Janeiro in 3 hours, 1 minute and 47 seconds, a record for the course in his boat, the Spirit of Brazil.
4. He was one of the richest men on Earth
In 2011 he was listed as the eighth richest person in the world and the richest in Brazil. In early 2012 his net worth was estimated at $35 billion, which put him seventh. He said in 2008 that his goal was to become the richest man in the world within five years. EBX reportedly invested an estimated $15.5 billion in Brazil between 2011 and 2012.
3. He wanted to rebuild Brazil’s infrastructure
Batista promoted large projects such as the Porto do Acu superport in Rio de Janeiro state. His mining arm produced iron ore, and MPX built Brazil’s first commercial solar plant at Taua. His 2011 book “O X da Questao” (The Heart of the Matter) tells the story of his career.
2. His companies collapsed
By 2013, because of falling commodity prices, none of his enterprises was profitable. OGX, which had promised to pump 750,000 barrels a day, delivered only about 15,000. By July 2013 his wealth had fallen to roughly $200 million, and OSX filed for court protection in November 2013. MPX was renamed Eneva and is now co-controlled by others.
1. His net worth went negative, and he has kept going
Bloomberg reported in January 2014 that Batista had a negative net worth, and in September 2014 he said his net worth was about minus $1 billion. He has been working on a return: EBX now advises start-ups and tries to rebuild itself, and in 2024 he introduced a new biotech start-up called BRX on the Market Makers podcast. What would you have done differently? Tell us in the comments.
Keep reading
- Things you didn’t know about Dan Bilzerian: the other side of the money story
- 15 self-made billionaires who were once poor: from nothing to billions
- Most common ways to become a self-made billionaire: the patterns
FAQ
Who is Eike Batista?
A Brazilian businessman born in 1956 who built the EBX Group in mining, oil, energy, logistics and offshore services, and was once the richest person in Brazil.
How much was Eike Batista worth at his peak?
About $30 billion to $35 billion in 2011 and early 2012, when he ranked seventh to eighth among the world’s richest people.
What happened to Eike Batista’s fortune?
Falling commodity prices and the failure of oil company OGX to hit its targets caused his companies to lose value. By 2014 he had a reported negative net worth.
What is Eike Batista doing now?
EBX advises start-ups and he introduced a biotech start-up named BRX in 2024.
How did Eike Batista make his first millions?
Through gold trading in his early twenties: his firm Autram Aurem earned about $6 million in its first year and a half.
What were Eike Batista’s companies?
OGX (oil and gas), MPX (energy, now Eneva), LLX (logistics), MMX (mining) and OSX (offshore services and shipbuilding).
How we put this list together
We rebuilt the article from public career records, rewriting old claims that no longer hold. We removed unverified details and legal matters, and we describe figures as estimates from the time.
Last updated: October 2026.
